48 U.S.C. § 1959 — Agreements

Page 329 TITLE 48—TERRITORIES AND INSULAR POSSESSIONS § 1960 1 So in original. Probably should be ‘‘103’’. Editorial Notes REFERENCES IN TEXT The Compact, referred to in text, is the Compact of Free Association between the United States and the Government of Palau, which is contained in section 201 of Pub. L. 99–658, set out as a note under section 1931 of this title. CODIFICATION Section was formerly set out as a note under section 1681 of this title. § 1959. Agreements (a) Effective date of certain agreements An agreement between the United States and the Government of the Republic of Palau con- sistent with the agreements approved by Public Law 101–62 (101 1 Stat. 162) shall take effect with- out further authorization thirty days after sub- mission to Congress. (b) Extensions The provisions of article IX, paragraph 5(a) of the Agreement referred to in section 462(e) of the Compact of Free Association as approved by Public Law 99–239, and article IX, paragraph 5(a) of the agreement referred to in section 462(f) of the Compact of Free Association for Palau as approved by Public Law 99–658, are extended, in accordance with the terms thereof, until Octo- ber 1, 1998, unless earlier terminated or further extended by the laws of the United States. (c) Authorization Funding to implement the provisions of this part, and for assistance to the central health care facility and the prison in Palau, and the of- fices of Public Auditor and Special Prosecutor as proposed in the agreement entitled ‘‘Agree- ment Concerning Special Programs related to the Entry into Force of the Compact of Free As- sociation Between the Government of the United States and the Government of the Repub- lic of Palau’’ signed on May 26, 1989, shall be available pursuant to the authorization in sec- tion 105(c) of Public Law 99–239 [48 U.S.C. 1905(c)] as referenced by section 102(b) of Public Law 99–658 [48 U.S.C. 1932(b)] or from funds appro- priated for technical assistance to the Secretary of the Interior. (Pub. L. 101–219, title I, § 110, Dec. 12, 1989, 103 Stat. 1872.) Editorial Notes REFERENCES IN TEXT Public Law 101–62, referred to in subsec. (a), is Pub. L. 101–62, July 26, 1989, 103 Stat. 162, which is set out as a note under section 1901 of this title. The Compact of Free Association as approved by Pub- lic Law 99–239, referred to in subsec. (b), is the Compact of Free Association between the Government of the United States and the Governments of the Marshall Is- lands and the Federated States of Micronesia, which is contained in section 201 of Pub. L. 99–239, set out as a note under section 1901 of this title. The Compact of Free Association for Palau as ap- proved by Public Law 99–658, referred to in subsec. (b), is the Compact of Free Association between the United States and the Government of Palau, which is con- tained in section 201 of Pub. L. 99–658, set out as a note under section 1931 of this title. Public Law 99–239, referred to in subsec. (b), is Pub. L. 99–239, Jan. 14, 1986, 99 Stat. 1770, as amended, known as the Compact of Free Association Act of 1985, which is classified principally to part A of subchapter I of this chapter and chapter 19 (§ 2001 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1901 of this title and Tables. Public Law 99–658, referred to in subsec. (b), is Pub. L. 99–658, Nov. 14, 1986, 100 Stat. 3672, which is classified generally to part A of this subchapter. For complete classification of this Act to the Code, see Tables. This part, referred to in subsec. (c), was in the origi- nal ‘‘this title’’, meaning title I of Pub. L. 101–219, Dec. 12, 1989, 103 Stat. 1870, which enacted this part and amended section 1933 of this title. For complete classi- fication of this title to the Code, see Tables. CODIFICATION Section was formerly set out as a note under section 1681 of this title. § 1960. Modification of energy assistance funding (a) Fulfillment of United States obligations The President is authorized to negotiate and conclude an agreement, including the obligation of United States funds, with the Government of Palau which shall provide the following: (1) The sum of $28,000,000, adjusted by section 215 of the Compact at the time of its avail- ability to Palau, shall be provided to Palau pursuant to section 211(b) of the Compact and upon entry into force of the Compact. (2) Palau shall pay to the United States, on or before the 15th anniversary of the effective date of the Compact, an amount equal to the net economic cost to the United States of making available the section 211(b) funds in the manner specified in this subsection rather than as provided in section 211(b). (3) Such economic cost shall reflect the time value of money and be determined using the rate determined for an equivalent loan by the Federal Financing Bank as of the date these funds are advanced, and using an inflation rate consistent with the determinations made under the provisions of section 215 of the Com- pact. (4) If the Government of Palau has not paid such net economic costs to the United States by the 15th anniversary of the effective date of the Compact, then the United States shall be automatically paid such sums from the fund established under section 211(f) of the Com- pact. (5) The provision of section 211(b) funds, as appropriated by Public Law 99–349 and pursu- ant to this subsection, shall be in fulfillment of all United States obligations under such section 211(b) of the Compact and shall be sub- ject to section 236 of the Compact. (b) Adjustment and payment Subject to the provisions of subsection (a) and upon the request of the Government of Palau, the sum of $28 million appropriated by Public Law 99–349 to fulfill the obligations of the United States under section 211(b) of the Com- pact (approved in Public Law 99–658), adjusted by section 215 of such Compact, shall be pro- vided to Palau upon entry into force of the Com- pact.